MUSCAT, Sept 14
The Sultanate of Oman, represented by the Capital Market Authority (CMA), participated in the 23rd meeting of the Presidents of GCC Capital Markets Commissions.
The forum, which was held online, focused on efforts to strengthen integration of GCC capital markets, and enhance cooperation and exchange of expertise in the securities industry in the region.
Attendees commended the joint awareness efforts launched last November.
The meeting also adopted a Saudi proposal to prepare a unified investment awareness programme in GCC markets starting next year targeted at Gulf investors. It will lead to a ‘GCC Smart Investor Award’ at the end of the campaign.
Additionally, the meeting approved Oman’s proposal to organise an annual workshop for the employees of media departments of the GCC regulators and financial reporters in Q1 2022.
The forum also discussed various legislative tools for cross border registration of financial products among the GCC regulators beside discussion of adding a third party for approving Know Your Customer (KYC) requirements and account opening requirements and KYC procedures.